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Cornell Economics is jointly funded by the College of Arts & Sciences and the School of Industrial & Labor Relations, and consists of all members of the former Economics and Labor Economics Departments as well as a set of distinguished senior faculty from around campus.

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Labor Economics deals with labor markets: that is, the institutional arrangements, terms, and conditions under which workers supply their labor and under which firms demand their labor. Faculty members are especially concerned with understanding the workings of labor markets and the effects of various public policies. The topics dealt with in courses and research include the following: analysis of the labor force, employment and unemployment, wages and related terms of employment, income distribution, income security programs, health and safety in industry, retirement, pensions and social security, economic aspects of collective bargaining, and economic demography.--Definition from the ILR Labor Economics Department.